When you need to change data, redundancy makes your changes more cumbersome and time-consuming
a. True
b. False
Indicate whether the statement is true or false
True
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Describe the objectives that the final paragraph of your sales message must achieve
A good internal control system does which of the following?
A) Guarantees the efficiency and effectiveness of operations B) Reduces the risk of undetected errors C) Provides absolute assurance that no errors will occur D) Guarantees that fraud will be prevented
Answer the following statements true (T) or false (F)
1. A major disadvantage to time value of money is that is only considers one item that changes the value of the dollar such as interest. 2. Cash flow decisions that ignore time value of money will probably not be as accurate as those decisions that do consider time value of money. 3. The present value of a positive future inflow can become negative as discount rates become higher and higher. 4. The interest factor for a future value (FVIF) is equal to (1 + i)n. 5. The formula PV = FV(1 + n)i will determine the present value of $1.
Gerry is 70½ on April 1 of the current year and must receive a minimum distribution from his qualified plan. The account balance had a value of $423,598 at the end of last year. The distribution period for a 70 year old is 27.4, and for a 71 year old it is 26.5. If Gerry takes a $15,000 distribution next April 1st, what is the amount of the minimum distribution tax penalty associated with his first year's distribution?
A) $0. B) $230. C) $492. D) $985.